Laurion Capital Management LP bought a new stake in shares of Sonoco Products Co (NYSE:SON) in the first quarter, HoldingsChannel reports. The institutional investor bought 11,319 shares of the industrial products company’s stock, valued at approximately $696,000.

A number of other hedge funds have also made changes to their positions in SON. Rehmann Capital Advisory Group lifted its holdings in shares of Sonoco Products by 40.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 328 shares during the last quarter. Rowland & Co. Investment Counsel ADV grew its holdings in Sonoco Products by 48.5% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 60,469 shares of the industrial products company’s stock valued at $3,721,000 after buying an additional 19,749 shares during the period. Two Sigma Advisers LP grew its holdings in Sonoco Products by 94.2% in the 4th quarter. Two Sigma Advisers LP now owns 35,400 shares of the industrial products company’s stock valued at $1,881,000 after buying an additional 17,176 shares during the period. Pratt Collard Advisory Partners LLC purchased a new stake in Sonoco Products in the 1st quarter valued at about $229,000. Finally, Geode Capital Management LLC grew its holdings in Sonoco Products by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 984,079 shares of the industrial products company’s stock valued at $52,284,000 after buying an additional 61,583 shares during the period. 73.54% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on SON. Wells Fargo & Co set a $58.00 price objective on Sonoco Products and gave the company a “hold” rating in a research note on Monday, April 22nd. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Sunday, April 21st. Vertical Research lowered Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, Argus raised Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $59.40.

NYSE SON opened at $62.73 on Friday. The stock has a market capitalization of $6.33 billion, a PE ratio of 18.61, a PEG ratio of 3.79 and a beta of 1.01. Sonoco Products Co has a 1-year low of $50.30 and a 1-year high of $64.46. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts expect that Sonoco Products Co will post 3.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.43 dividend. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s payout ratio is currently 51.04%.

In related news, SVP Kevin P. Mahoney sold 1,119 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $59.57, for a total transaction of $66,658.83. Following the transaction, the senior vice president now directly owns 2,295 shares of the company’s stock, valued at approximately $136,713.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Roger P. Schrum sold 812 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the transaction, the vice president now directly owns 7,938 shares in the company, valued at $494,140.50. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock worth $825,196 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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Sonoco Products Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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